Are your savings safe? article discussion

altocumulus

fwtw, if someone at your bank doesn't know the 100% answer - change banks !!!

dunstonh

I am in a similar position, but no-one seems to know about business accounts and whether they are safe.

We do know as its been posted a number of times on this website over the last few days.

I have spoken to a bank who said that any client a/c you have may be ring-fenced from any disaster, but they werent 100% sure. They also said that any business capital you have possibly does not have the same £35k security - again no 100% certainty

That is the wrong answer.

anthony7777777

Has anything been done to protect savers with fixed term bonds who are over the compensation limit because of the merging of deposits ?

Oblivion

altocumulus wrote: »

fwtw, if someone at your bank doesn't know the 100% answer - change banks !!!

I doubt there is a bank in the world who doesn't employ many people who don't know the answer to a question. The correct test is ... does the bank have an infrastructure that can pass your call quickly and efficiently to a person that does have the necessary information.

Dave.

nicky555

my husband and i both have savings in Turkey with Garanti bank.
i cannot find them on the fscs list. does this mean if something happens to this bank we are not protected?

Oblivion

nicky555 wrote: »

my husband and i both have savings in Turkey with Garanti bank.
i cannot find them on the fscs list. does this mean if something happens to this bank we are not protected?

I cannot see them on the FSCS listing either, and so I don't think they have any registration in the UK. In fact looking at their website, I cannot find any mention of any protection in the homeland of Turkey.

So, unless I've missed something (and I often do) the Garanti has no Guarantee and you've put your savings into a turkey. And let me be the first to wish you a Merry Xmas. :rolleyes:

Dave.

nicky555

thanks Dave,
looks like if anything happens we'll be eating chicken for xmas rather than turkey now!
any (sensible) ideas about where to move the money anyone???

nicky555

sorry, i should probably say how much for useful tips from people.
we have 2 seperate accounts
£10,000.00 in one and approx £16,000.00 in other.
reason its there- interest rates after tax are 15%.
any ideas on safe place to move it where we can still get good interest?
nicky

Baldur

nicky555 wrote: »

interest rates after tax are 15%.
any ideas on safe place to move it where we can still get good interest?

You are unlikely to receive anywhere near that rate in Europe - did you ask yourselves why the interest rate was so much higher than UK/European-based accounts, when depositing?

ScottishItalian

Hi, my apologies if this has already been answered but I couldn't find it through the search engine. Are non resident expats covered by the 35k guarantee too? I spoke to my bank today but they don't seem to have a clue...
Thanks!